Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.41 million 10% single observation ELKS linked to Square
Chicago, Feb. 24 – Citigroup Global Markets Holdings Inc. priced $1.41 million of 10% single observation Equity Linked Securities due Oct. 27, 2021 linked to the class A common stock of Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The payout at maturity will be par unless the stock finishes below the downside threshold price, 70% of the initial share price, in which case the payout will be a number of Square shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Single observation Equity Linked Securities
|
| Underlying stock: | Square, Inc.
|
| Amount: | $1,406,000
|
| Maturity: | Oct. 27, 2021
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If stock finishes below downside threshold price, 4.0798 Square shares; otherwise, par in cash
|
| Initial share price: | $245.11
|
| Trigger price: | $171.577, 70% of initial level
|
| Pricing date: | April 22, 2021
|
| Settlement date: | April 27, 2021
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17328NMV7
|
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